A vulnerability in Android applications built on the Apache Cordova platform has sparked new fears over mobile banking.

If attacked, the hacker could steal enough banking details to perform transactions, including the withdrawal or transfer of funds from one bank account to another.

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While the IBM Cyber Security Intelligence Index stated that 95% of successful attacks or security incidents were caused by human error, hackers continue to aggressively seek out such vulnerabilities to exploit.

The digital identity firm found that 75% of those surveyed were concerned about data loss. They were also highly concerned that losing their phone would lead to identity theft.

Intercede found most consumers were unwilling to use mobile banking services at all. Consumers aged between 18 and 24 were found to be the least trusting of mobile banking services, with 60% of this age group refusing to make mobile payments and 52% claiming they would never use PayPal.

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